This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting neurological and psychiatric disorders. Its structure is often incorporated into compounds designed to interact with specific receptors in the brain, such as serotonin or dopamine receptors, making it valuable in the creation of potential therapeutic agents. Additionally, it is explored in the development of drugs for treating conditions like depression, anxiety, and other central nervous system-related ailments. Its role in medicinal chemistry underscores its importance in advancing drug discovery and innovation.